Currency USD/JPY is trading at 113.35. Quotes of the pair are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for the Dollar/Yen. At the moment, the pair quotes are moving near the lower border of the Bollinger Bands indicator bands. A test of level 113.80 is expected, from which one can expect an attempt to continue to fall and further develop a downward trend with a target near the level of 109.60.
USD/JPY forecast Japanese Yen on October 9, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 112.40. . Cancellation of the option to continue the fall of the pair Dollar/Yen will be the breakdown of the upper border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of the pair quotes above 115.00, indicating a change in trend in favor of bullish for USD/JPY. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.